Egyptians are rioting demanding a change in the country’s political system and the departure of President Hussni Mubarak. The Egyptian stock market reacted negatively to the riots, with the index plummiting more than 16% during Wendesday and Thursday. The markets were closed today, Sunday, from the fears of further losses in the markets.
Egypt is a country with a large weight in the region and the continent, so any disturbance in Egypt will cause shockwaves throughout the world. This is evident in the financial world as stock markets around the world plummeted during Friday to Sunday.
It is worth to note that the Saudi Index fell 6.5% yesterday (saturday) and has recovered aome of its loss today, with the index going up 2.5%. Also, European markets’ decline was helped by bad data in the region.
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